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The human microbiome market is expected to reach USD 658 Million by 2023 from USD 294 Million in 2019 growing at a CAGR of 22.3% during the forecast period (2019–2023).
The human microbiome market is segmented on the basis of application, disease, product, and geography. Also, the human microbiome research spending market is broadly segmented by product and technology. On the basis of application, the market is further segmented into therapeutics and diagnostics. Therapeutics is expected to account for the largest market share in the human microbiome market 2019 onwards. Factors such as rising incidences of lifestyle diseases, increasing aging population, and technological developments such as microbiome sequencing drive the growth of the human microbiome market. On the basis of disease, the human microbiome market comprises of obesity, diabetes, autoimmune disorder, acute diarrhea, cancer, mental disorder, and others. Among these, the acute diarrhea segment is expected to account for the largest share and will be the fastest-growing segment in 2019, followed by obesity.
On the basis of product, the human microbiome market is segmented into probiotics, prebiotics, foods, medical foods, other supplements, devices, and drugs. Probiotics is expected to account for the largest market share and will also register a growth rate of 25.2% in the forecasted period of 2019 to 2023. These probiotics helps in maintaining the gut flora and they has been emerging as a useful tool in alleviating symptoms of chronic disorder.
The human microbiome research spending market, by product, is divided characterized into instruments and consumables. The instruments segment is further segmented into laboratory instruments and analyzers, while, the consumables segment is further bifurcated into kits and reagents.
The human microbiome research spending market, by technology, is divided into cell culture technology, high- throughput technology, omics technology, and computational tools. The cell culture technology is the most widely-used technology for in microbiome research, and is expected to account for the largest share of the human microbiome research spending market in 2015.
Europe is expected to account for the highest share in 2019 and is poised to grow at a double-digit CAGR. This growth can be attributed to the rising incidences of lifestyle diseases, diarrheal infections, and autoimmune disorders that are further adding to the overall prevalence of chronic diseases.
Asia is expected to be the second largest-growing region of the human microbiome market in 2019. The high population base and improved purchasing power of patients are the major drivers of this market. Moreover, economic instability in the western countries enables companies to focus on the Asian region in order to meet their revenue targets.
However, growth of the North American region is expected to be slow in the forecast period due to the limited awareness regarding the beneficial use of microbiome-based products.
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